Network Space Management, a newly formed company in the Network Space group, has completed its first deal for client InfraRed Capital Partners Limited (“InfraRed”).
Having previously operated as an in-house management team with a small number of external clients, Network Space Management (NSM) has been established as a business in its own right to broaden its offering.
NSM offers asset and property management services to property owners and investors seeking to maximise returns. The business is founded on the experience and culture of looking after property as if it was their own. Recognising the importance of PropTech in the sector today, NSM has set up a new £200,000 dedicated IT system and has also received RICS accreditation.
Network Space has over 35 years’ experience in managing commercial property and NSM will continue to build on this alongside the investment and development arms of the group.
The first significant letting for NSM is a 10,000 sq ft unit at Vector 31, Rotherham which has been let to Turners Garage Ltd on a 10-year lease. Vector 31 comprises 164,283 sq feet across nine units and the recent deal with Turners Garage has taken the development to 100 per cent let.
Nicky Jones, Managing Director for NSM, said:
“This is an exciting time for the business, having worked with InfraRed for just over one month, we are delighted to have already completed several transactions including bringing Vector 31 back to full occupancy.
“NSM identified that there is room in the market for an asset manager that takes the approach of an owner, reducing costs, driving income and increasing value. The business has also received RICS accreditation and through our partnership with InfraRed, NSM will also provide full accountancy services alongside its management.
“We are now actively seeking new opportunities for NSM to grow the business’ client base with additional, like-minded investors.”